The SEC crackdown on crypto caused bitcoin to temporarily decorrelate from the S&P500, BlackRock filing for an ETF countered that negative sentiment. 🧵
Discussion
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How can you say they are correlated when one scale is log and the other is linear? I guess you can say theyre exponentially correlated, but isnt that an abuse of the term?
Spx hit the 70.5 fib retracement. Btc would be at 50k if it followed